In the banking sector, robust Identity and Access Management (IAM) strategies are critical for safeguarding against cyber threats and ensuring regulatory compliance. Effective IAM practices, including multi-factor authentication (MFA) and role-based access control (RBAC), are essential to prevent financial breaches and protect both customer data and institutional assets. The adoption of sophisticated customer IAM systems helps banks enhance security, comply with regulations like Know Your Customer (KYC) and Anti-Money Laundering (AML), and improve customer satisfaction by offering seamless login experiences. Federated authentication and adaptive authentication are recommended for managing multiple customer-facing applications and minimizing user friction. Companies like Descope offer comprehensive IAM solutions tailored to banking needs, balancing security with user convenience and regulatory demands, while incorporating advancements like phishing-resistant MFA and step-up authentication to mitigate evolving threats.